Starbucks to give workers a full ride for college

Want to get a college degree for free? Try getting a job at Starbucks.

Starbucks(SBUX) said Monday it will offer employees full tuition at Arizona State University's online program, giving them the chance to earn a bachelor's degree for free.

The coffee chain already offers its baristas two years of undergraduate tuition at ASU under its existing college achievement program. Now the company is extending that to four years for most of its workers.

Here are more details:

Who can apply: All full and part-time U.S. employees who do not already have a four-year degree. Starbucks says 70% of its workers do not have a bachelor's degree.

Who's not eligible: Workers at Starbucks' "licensed stores," such as those located inside grocery stores.

Can you leave Starbucks after graduating: Yes. Employees will have no obligation to remain at Starbucks after they graduate.

How does it work: Starbucks employees who qualify will receive a scholarship from ASU that covers 42% of the cost for each credit of course work. Starbucks will pay the remaining 58%, minus any other scholarships the employee receives.

How often will Starbucks reimburse you: Starbucks will reimburse tuition costs at the end of each semester, as opposed to the end of each year as it currently does. So, employees who drop out or leave the company will be responsible for paying tuition for that semester.

The company points out there are nearly six million Americans between the ages of 16 and 24 who are not working or in school. With the proper education, Starbucks says these so-called "opportunity youth" represent a "huge, untapped talent pool for American businesses."